Visit of Shiv Sena Chief to Ayodhya is a election gimick: Kharge

Feb 28: The best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later, said Raghuram Rajan, former head of the Reserve Bank of India.

There’s little central banks can do, and while more government spending would help, the priority should be on convincing companies and households that the virus is under control, he said.

“People want to have a sense that there is a limit to the spread of this virus perhaps because of containment measures or because there is hope that some kind of viral solution can be found,” Rajan told Bloomberg Television’s Haidi Stroud Watts and Shery Ahn.

“At this point I would say the best thing that governments can do is to really fight the epidemic rather than worry about stimulus measures that comes later,” said Rajan, who is currently a professor at the Chicago Booth School of Business.

The spread of coronavirus is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.

Bank of America Corp. economists warned clients Thursday that they now expect 2.8% global growth this year, the weakest since 2009.

“We have moved from extreme confidence in markets to extreme panic, all in the space of one week,” said Rajan, who previously was chief economist at the International Monetary Fund.

The virus outbreak will force companies to rethink supply chains and overseas production facilities, he said.

“I think we will see a lot of rethinking on this, coming on the back of the trade disruption, now we have this,” Rajan said. “Globalization in production is going to be hit quite badly.”

New Delhi, Feb 10: After an hour-long standoff between the security forces and the students on Monday, the police resorted to a lathi-charge on the protesters near Holy Family hospital which is within walking distance of Jamia Millia Islamia.

A scuffle ensued when police confronted the protesters who tried to push forward towards Parliament. The lathi-charge was made to push back the protesters.

In the melee that ensued, many from both sides fainted.

Some security forces personnel resorted to the lathi-charge while others pushed back the protesters when they threw water pouches at the security forces and abused them.

#Jamia https://t.co/WbABBDHtMo

— Maheen (@Maheen83086711) February 10, 2020

New Delhi, Apr 9: Kerala opposition coalition United Democratic Front on Thursday submitted a roadmap to Prime Minister Narendra Modi for staggered lifting of ongoing lockdown due to COVID-19 pandemic.

The coalition led by leader of opposition Ramesh Chennithala has given a set of recommendations to Modi in this regard, which include those made by an expert committee headed by deputy leader of opposition M K Muneer.

The committee was set up to suggest measures to be taken by the government for smooth transition from lockdown to normalcy.

It listed an eight-point exit strategy for removing lockdown in a staggered approach at a district level, with emphasis on hotspots to avoid further spread of virus and ensure smooth restart of economy.

This approach is tuned to the unique needs of each district and all the districts should also be categorised as per their risk levels, the report said.

The report has also been submitted to chief ministers of all states, former prime minister Manmohan Singh, Congress president Sonia Gandhi, senior Congress leader Rahul Gandhi among others.

The committee recommended that COVID-19 rapid testing must be enhanced across the country and the testing target be widened to 500 tests per one lakh population.

"A step-by-step approach is necessary for each sector along with conditions that need to be considered for each sector," the report said.

"There is a need for a comprehensive economic stimulus package in addition to the ones already announced after considering all the industries," it added.